Deal Leaves Lawmakers With Plenty More to Do

By

John D. McKinnon

Updated Dec. 31, 2012 10:26 p.m. ET

Monday's tax and spending deal could avert the fiscal cliff, assuming the package meets with lawmakers' approval. But it keeps Washington on a rocky and potentially risky fiscal-policy path for the coming year.

By postponing major decisions on the debt ceiling, benefit programs, government spending and a tax overhaul, the deal all but guarantees...